Wow, what a bunch of questions.
1. they are fine in the case. Some have said to store them on their side, this is a good idea, but that's if we are talking LOONNNG periods of time before drinking.
2. The wine isn't going to "go bad" as long as it doesn't get cooked (80°-85°F will do that) If you are really concerned, pick up a cheap stacking wire racks from Pier 1, or wherever, and toss a sheet or something over them, you don't have to go and buy a viking cellar or anything.
3. wine glasses. This makes a difference. With this particular wine, it's not like we are talking about a Chateau Pavie St. Emilion 2005 or something, just a nice little Sangio. So you don't need to go buy Riedel Grand Cru glasses. Just something decent. Hell Target has a pretty nice selection of glasses. I know I might get punched in the face by some of the purists, but for something like this, and your situation (limited space, college guy) Get some nice looking large bowled stemless glasses...you can drink cognac out of them too ;-)
The decanter is not for letting the alcohol evaporate, it's more or less to let the wine get some air, and "open up" as we say. You can click on WD's profile footer and order a really cool one, or just buy one when you are out getting your glasses.
4. Don't serve this chilled, but not too hot either. Look your apartment is probably not 65° so just put the bottle (or the full decanter) in the fridge for 10 minutes if the wine doesn't suit you.
Finally, cheap wine doesn't mean bad wine. There are plenty of things out there for less than 10 bucks a bottle that can be 'everyday' drinkers. Find what you like, and enjoy it, but don't be scared to experiment, it's your palette you are trying to please, not anybody elses.
When you do get into the business world and you come across that snooty executive who runs the conversation when you are trying to enjoy a wine, and scoffs at the waiter, other patrons, sommolier, don't do business with that guy, he's an ratholes.
Cheers, and welcome to a much larger world.